Daimler AG http://www.globalpost.com/taxonomy/term/29117/all en Daimler says to take 12.0% stake in China's BAIC Motor http://www.globalpost.com/dispatch/news/afp/130201/daimler-says-take-120-stake-chinas-baic-motor <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>German automaker Daimler said on Friday that it has agreed to acquire a 12-percent stake in BAIC Motor, the passenger car unit of China's Beijing Automotive Group (BAIC).</p> <p>"Daimler and Beijing Automotive Group will significantly deepen their already strong strategic partnership," the German group said in a statement.</p> <p>Under a binding agreement signed by Daimler chief executive Dieter Zetsche and BAIC chairman Xu Heyi in Stuttgart, "Daimler is going to invest in BAIC Motor, the passenger car unit of BAIC Group," the statement said.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130201/daimler-says-take-120-stake-chinas-baic-motor" target="_blank">read more</a></p> BAIC Motor Beijing Automotive Group Daimler Daimler AG Transport AFP Fri, 01 Feb 2013 11:45:43 +0000 5742848 at http://www.globalpost.com UPDATE 2-Daimler aims for China impetus with BAIC Motor stake http://www.globalpost.com/dispatch/news/thomson-reuters/130201/update-2-daimler-aims-china-impetus-baic-motor-stake <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>* To pay 640 mln eur for a 12 pct stake in JV partner</p> <p>* First non-Chinese carmaker to own stake in Chinese peer</p> <p>* Daimler gets two seats on BAIC Motor Board of Directors</p> <p>* BAIC Motor to up stake in production JV with Mercedes</p> <p>* Daimler to help BAIC in coming consolidation wave -source (Adds background, comments)</p> <p>By Christiaan Hetzner</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130201/update-2-daimler-aims-china-impetus-baic-motor-stake" target="_blank">read more</a></p> Daimler AG Joint ventures Social Issues Technology Transport Thomson Reuters Fri, 01 Feb 2013 14:01:05 +0000 5743037 at http://www.globalpost.com Daimler puts foot on accelerator in China http://www.globalpost.com/dispatch/news/afp/130201/daimler-puts-foot-accelerator-china <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>German automaker Daimler unveiled plans Friday to boost its position in the fast-growing Chinese market by acquiring for 640 million euros a 12-percent stake in the country's fifth-biggest car group.</p> <p>Daimler -- which at the end of last year created a new position on its management board dedicated especially to China -- said in a statement it had decided to deepen its existing partnership with Beijing Automotive Group (BAIC) by buying a stake in its passenger car unit BAIC Motor.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130201/daimler-puts-foot-accelerator-china" target="_blank">read more</a></p> Beijing Automotive Group Daimler Daimler AG Technology Transport AFP Fri, 01 Feb 2013 19:30:45 +0000 5743464 at http://www.globalpost.com Daimler puts foot on accelerator in China http://www.globalpost.com/dispatch/news/afp/130201/daimler-puts-foot-accelerator-china-0 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>German automaker Daimler unveiled plans Friday to boost its position in the fast-growing Chinese market by acquiring a 12-percent stake in the country's fifth-biggest car group.</p> <p>Daimler -- which at the end of last year created a new position on its management board dedicated especially to China -- said in a statement it had decided to deepen its existing partnership with Beijing Automotive Group (BAIC) by buying a stake in its passenger car unit BAIC Motor.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130201/daimler-puts-foot-accelerator-china-0" target="_blank">read more</a></p> Beijing Automotive Group Daimler Daimler AG Technology Transport AFP Sat, 02 Feb 2013 03:30:45 +0000 5743795 at http://www.globalpost.com URGENT ¥¥¥ Daimler says 2012 profits up on record revenue, unit sales http://www.globalpost.com/dispatch/news/afp/130207/urgent-daimler-says-2012-profits-record-revenue-unit-sales <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>German automaker Daimler said Thursday that its net profit rose by 8.0 percent to 6.495 billion euros ($8.8 billion) in 2012 on the back of record unit sales and revenues.</p> <p>"The past financial year was overall a strong year for Daimler. We achieved new records for unit sales and revenue at both the group and Mercedes-Benz Cars," said chief executive Dieter Zetsche. Revenues rose by 7.0 percent to 114.3 billion euros and the group sold a total 2.198 million vehicles worldwide, 4.0 percent more than in the previous year.</p> <p>spm/yad</p> Daimler AG DaimlerChrysler Dieter Zetsche AFP Thu, 07 Feb 2013 08:32:17 +0000 5748540 at http://www.globalpost.com Daimler says 2012 profits up on record revenue, unit sales http://www.globalpost.com/dispatch/news/afp/130207/daimler-says-2012-profits-record-revenue-unit-sales <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>German automaker Daimler said Thursday that its net profit rose by 8.0 percent to 6.495 billion euros ($8.8 billion) in 2012 on the back of record unit sales and revenues.</p> <p>"The past financial year was overall a strong year for Daimler. We achieved new records for unit sales and revenue at both the group and Mercedes-Benz Cars," said chief executive Dieter Zetsche.</p> <p>Revenues rose by 7.0 percent to 114.3 billion euros and the group sold a total 2.198 million vehicles worldwide, 4.0 percent more than in the previous year.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130207/daimler-says-2012-profits-record-revenue-unit-sales" target="_blank">read more</a></p> Business Daimler Daimler AG Generally Accepted Accounting Principles Technology Transport AFP Thu, 07 Feb 2013 09:17:18 +0000 5748566 at http://www.globalpost.com UPDATE 1-Mercedes-Benz, UK dealers fined for competition breach http://www.globalpost.com/dispatch/news/thomson-reuters/130221/update-1-mercedes-benz-uk-dealers-fined-competition-breach <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>LONDON, Feb 21 (Reuters) - Daimler's Mercedes-Benz and three of its British commercial vehicle dealers have been fined 2.6 million pounds ($4 million) by Britain's competition watchdog for price fixing.</p> <p>The Office of Fair Trading said on Thursday that there had been three admitted competition law infringements involving market sharing, price coordination and the exchange of commercially sensitive information over the sale and distribution of the German automaker's vans and trucks between 2008 and 2010.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130221/update-1-mercedes-benz-uk-dealers-fined-competition-breach" target="_blank">read more</a></p> Anti-competitive behaviour Daimler AG Luxury brands Social Issues Thomson Reuters Thu, 21 Feb 2013 09:30:27 +0000 5761851 at http://www.globalpost.com Daimler extends CEO's contract for further 3 years http://www.globalpost.com/dispatch/news/afp/130221/daimler-extends-ceos-contract-further-3-years <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>German automaker Daimler said on Thursday its supervisory board had decided to extend the contract of the group's chief executive Dieter Zetsche for another three years.</p> <p>"In its meeting today, the supervisory board of Daimler AG passed a unanimous resolution to extend the contract of service Dieter Zetsche, chairman of the board of management of Daimler AG and head of Mercedes-Benz Cars, until December 31, 2016," the company said in a statement.</p> <p>Zetsche, who turns 60 this year, joined Daimler's executive board in 1998 and was appointed CEO in January 2006.</p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130221/daimler-extends-ceos-contract-further-3-years" target="_blank">read more</a></p> Daimler AG Daimler AG Economy of Germany Technology Transport AFP Thu, 21 Feb 2013 15:01:00 +0000 5762213 at http://www.globalpost.com Some German carmakers cruising past crisis http://www.globalpost.com/dispatch/news/afp/130305/some-german-carmakers-cruising-past-crisis <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>German carmakers offered a rare ray of optimism at the International Geneva Motor Show Tuesday, with their heavy footprints outside of Europe allowing them to almost shrug off the continued crisis there.</p> <p>With many car companies complaining on the first day of the show about the impact of Europe's economic woes, several of the German firms sounded all but upbeat as they described how their global presence was helping guide them through the difficult terrain. </p> <p><a href="http://www.globalpost.com/dispatch/news/afp/130305/some-german-carmakers-cruising-past-crisis" target="_blank">read more</a></p> Daimler AG Economy of Germany Technology Transport AFP Tue, 05 Mar 2013 17:30:56 +0000 5774094 at http://www.globalpost.com Daimler Trucks suffers weak start to 2013 http://www.globalpost.com/dispatch/news/thomson-reuters/130313/daimler-trucks-suffers-weak-start-2013 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Christiaan Hetzner</p> <p>WOERTH, Germany (Reuters) - Daimler's &lt;DAIGn.DE&gt; trucks business suffered a weak start to 2013 in Europe and the United States and new model launches are unlikely to boost its sales until the second half of the year, the company said on Wednesday.</p> <p>European truckmakers are suffering heavily from the economic malaise in the euro zone since demand for their vehicles closely tracks the cross-border trade of goods.</p> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130313/daimler-trucks-suffers-weak-start-2013" target="_blank">read more</a></p> Business Daimler AG Land transport Transport Thomson Reuters Wed, 13 Mar 2013 17:45:17 +0000 5782485 at http://www.globalpost.com imported cars-March sales http://www.globalpost.com/dispatch/news/yonhap-news-agency/130404/imported-cars-march-sales <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Yonhap News Agency </div> </div> </div> <!--paging_filter--><p>SEOUL, April 4 (Yonhap) -- Sales of foreign-made vehicles in South Korea spiked more than 13 percent in March from a year earlier, boosted by steady-selling models, a trade association said Thursday.</p> <p>A total of 12,063 foreign brand cars were sold here last month, up 13.3 percent from a year earlier, according to the Korea Automobile Importers and Distributors Association (KAIDA).</p> <p>In the first three months of 2013, a total of 34,964 foreign vehicles were sold in the country, also up 19.4 percent from a year earlier, the association said.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://english.yonhapnews.co.kr" class="button wire yonhap"></a></p> <p><span>Copyright Yonhap News Agency, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/yonhap-news-agency/130404/imported-cars-march-sales" target="_blank">read more</a></p> Automotive industry in South Korea Business Daimler AG Transport Yonhap News Agency Thu, 04 Apr 2013 07:47:50 +0000 5801392 at http://www.globalpost.com Daimler prepares ground for possible profit warning http://www.globalpost.com/dispatch/news/afp/130410/daimler-prepares-ground-possible-profit-warning <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The head of German carmaker Daimler said Wednesday that European demand had been weaker than expected in early 2013, paving the way for a possible lowering of the company's annual targets.</p> <p>"Not much tailwind is anticipated from the markets in the coming months," a company statement quoted chief executive Dieter Zetsche as telling the annual shareholder's meeting.</p> <p>"For Europe in particular, there are no signs of a trend reversal," he was quoted as saying.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130410/daimler-prepares-ground-possible-profit-warning" target="_blank">read more</a></p> Business Daimler AG DaimlerChrysler Transport AFP Wed, 10 Apr 2013 09:30:23 +0000 5808720 at http://www.globalpost.com US court to take up Argentina 'Dirty War' Daimler suit http://www.globalpost.com/dispatch/news/afp/130422/us-court-take-argentina-dirty-war-daimler-suit <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>The US Supreme Court agreed Monday to consider whether German auto giant Daimler AG can be sued over charges its Mercedes unit in Argentina collaborated in murder and other crimes during that country's "Dirty War."</p> <p>The court agreed to look at a complaint filed by 22 Argentine plaintiffs against Daimler before the Ninth Circuit Court of Appeals in California. The high court will do so in its next session, in the autumn.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130422/us-court-take-argentina-dirty-war-daimler-suit" target="_blank">read more</a></p> Alien Tort Statute Business Daimler Daimler AG Hospitality Labor Law Politics AFP Mon, 22 Apr 2013 16:01:45 +0000 5822388 at http://www.globalpost.com Daimler sustains 60% drop in profits in Q1 http://www.globalpost.com/dispatch/news/afp/130424/daimler-sustains-60-drop-profits-q1 <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Agence France-Presse </div> </div> </div> <!--paging_filter--><p>German automaker Daimler said Wednesday that large investments and generally weak markets hit its bottom line in the first three months of this year. </p> <p>Daimler said in a statement that it booked net profit of 536 million euros ($697 million) in the period from January to March, a drop of 60 percent from the 1.347 billion euros it booked a year earlier.</p> <p>Operating profit, as measured by earnings before interest and tax (Ebit), tumbled 56 percent to 917 million euros on a 3.0-percent decline in revenues to 26.102 billion euros, the statement said.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://www.afp.com/" class="button wire afp"></a></p> <p><a href="http://www.globalpost.com/terms-use#afp"><span>Copyright AFP, 2013.</span></a></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/afp/130424/daimler-sustains-60-drop-profits-q1" target="_blank">read more</a></p> Daimler Daimler AG Economy of Germany Transport AFP Wed, 24 Apr 2013 06:46:47 +0000 5823838 at http://www.globalpost.com Daimler scraps profit goal after Q1 earnings plunge http://www.globalpost.com/dispatch/news/thomson-reuters/130424/daimler-scraps-profit-goal-after-first-quarter-earnings-plunge <div class="field field-type-text field-field-byline1"> <div class="field-items"> <div class="field-item odd"> Thomson Reuters </div> </div> </div> <!--paging_filter--><p>By Andreas Cremer</p> <p>BERLIN (Reuters) - German automaker Daimler &lt;DAIGn.DE&gt; scrapped its earnings forecast on Wednesday after first-quarter profit plunged more than half due to a prolonged slump in European markets and self-inflicted problems in China.</p> <p>Struggling to match rivals' scale and efficiency in smaller cars, as well as their success in China, Stuttgart-based Daimler has fallen further behind German peers BMW &lt;BMWG.DE&gt; and Volkswagen &lt;VOWG_p.DE&gt;.</p> <div class="field field-type-text field-field-wire-copyright"> <div class="field-items"> <div class="field-item odd"> <p><a href="http://thomsonreuters.com" class="button wire reuters"></a></p> <p><span>Copyright Thomson Reuters, 2013.</span></p> </div> </div> </div> <p><a href="http://www.globalpost.com/dispatch/news/thomson-reuters/130424/daimler-scraps-profit-goal-after-first-quarter-earnings-plunge" target="_blank">read more</a></p> Daimler AG Private transport Sedans Transport Thomson Reuters Wed, 24 Apr 2013 07:15:25 +0000 5823846 at http://www.globalpost.com